Case Study on the Decision of the Supreme People’s Court with respect to Shareholding Entrustment in Insurance Companies

作者/编者:Wang Fengli, Yuan Min, Li Wenqiang and Guo Haizhen
作者单位:金杜律师事务所
创作年代:2018
出处/来源:金杜律师事务所
学科分类:商法学
所属机构:金杜律师事务所
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摘要

It is reported in the People’s Court Daily, issued by the Supreme People’s Court (hereinafter referred to as “Supreme People’s Court“) on 25 April 2018, that the the 3rd Circuit Court of the Supreme People’s Court recently held an open hearing of the case of Fujian Weijie Investment Co., Ltd. vs. Fuzhou Tiance Industry Co., Ltd. with Junkang Life Insurance Co., Ltd. as the trial third party and made a ruling. As the Supreme People’s Court decided that the shareholding entrustment arrangement with respect to insurance companies was invalid, the case caused great concern in the financial industry. In addition, the case will be an alarm for entrusting any third party to hold equities in insurance companies. There is a possibility that any Shareholding Entrustment Agreement entered into by dormant shareholders and nominal shareholders might be ruled invalid by the court. For a dormant shareholder, it is advised to reach a prior arrangement with the nominal shareholder before a dispute arises and consider entering equity transfer or seeking other approaches to remove the shareholding entrustment arrangement so as to meet relevant regulatory requirements and avoid such risks.

关键词: Shareholding Entrustment; Dormant Shareholder; Nominal Shareholder; Insurance Companies

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